Orosur Mining Inc Announces Close of Private Placement for Gross Proceed C$20M

Executive Summary

• Orosur Mining Inc. closed an oversubscribed “best efforts” private placement, raising approximately C$20 million in gross proceeds.
• The offering consisted of 58,823,530 common shares sold at C$0.34 per share; the net proceeds will be used to advance the Anzá exploration project in Colombia and for general working capital.
• Related‑party investor 1832 Asset Management subscribed for 4,412,000 shares, bringing its total beneficial interest to ~11.5% of Orosur’s outstanding share capital.

Key Details

• Gross proceeds: Approximately C$20,000,000 (including full exercise of agents’ option for an additional C$2,000,000).
• Shares sold: 58,823,530 common shares at C$0.34 per share (≈ GBP £0.1809).
• Lead agent/bookrunner: Red Cloud Securities Inc.; co‑agent Paradigm Capital Inc.
• Commission to agents: Cash commission of C$809,995.80 paid to Red Cloud and Paradigm.
• UK broker fees: Turner Pope Investments Ltd., Greenwood Capital Partners Ltd., and SP Angel received aggregate cash commissions/fees of £274,807.44 (≈ C$516,638).
• Exemptions used: 36,764,706 shares sold to Canadian residents under NI 45‑106 listed issuer financing exemption; no hold period required.
• Use of proceeds: Primarily to fund the Anzá exploration project in Colombia; remainder for general working capital and corporate purposes.
• AIM admission: Application filed for the 58,823,530 shares to be admitted to trading on AIM; expected effective around Oct 3 2025 at 08:00 UK time.
• Closing condition: Subject to final approval by the TSX Venture Exchange.
• Related‑party transaction: 1832 Asset Management subscribed for 4,412,000 shares; total post‑offering beneficial interest will be 44,027,000 shares (~11.5% of outstanding capital). Exemptions from formal valuation and minority shareholder approval were relied upon under AIM Rule 13 and TSX‑V Policy 5.9.
• Total voting rights after offering: Post‑closing and exercise of warrants (581,500) will result in 385,163,924 shares issued; this figure serves as the denominator for disclosure calculations under UK transparency rules.

Notable Quotes

(No direct quotes from management were included in the release.)